Burcon Nutrascience (BU) AI Stock Analysis

• Market Cap: C$23.23M
• Dividend Yield: N/A
• Average Volume (3M): 6.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.20
• Revenue Growth: 190.07%
• EPS Growth: -2.88%
• Country: US
• Employees: 25
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): -0.28
• Shares Outstanding: 12,692,276
• 10 Day Avg. Volume: 9,144
• 30 Day Avg. Volume: 6,578
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.14
• Price to Sales (P/S): 38.96
• P/FCF Ratio: -2.55
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: C$1.50 ▼(-13.29% Downside)

The score is held down primarily by very weak financial performance—severe unprofitability, continued cash burn, and a highly strained balance sheet with extremely high leverage. Technicals are modestly weak with the stock trading below key longer-term moving averages, while valuation is also pressured by negative earnings and no dividend data.

Positive Factors

Revenue Growth

The company's ability to achieve revenue growth reflects its potential to capture market share in the expanding plant-based protein sector.

Market Position

Strategic partnerships bolster Burcon's market position, providing a competitive edge and facilitating access to broader distribution channels.

Industry Trends

The shift towards plant-based diets is a durable trend, positioning Burcon to benefit from increasing consumer preference for sustainable food options.

Negative Factors

Negative Profitability

Persistent negative margins indicate operational inefficiencies and challenges in achieving profitability, which could hinder long-term financial health.

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting Burcon's ability to invest in growth opportunities.

Cash Flow Challenges

Negative cash flows suggest difficulties in sustaining operations and funding growth, posing risks to Burcon's financial stability.

Burcon Nutrascience Business Overview & Revenue Model

Company Description

Burcon NutraScience Corporation, together with its subsidiaries, develops plant proteins and ingredients for use in the food and beverage industries in Canada. The company's products include Peazazz, a pea protein for use in dairy alternatives, ready-to-drink beverages, dry blended beverages, bars, baked goods, and meat substitute products; and Peazac and Peazac 850, a pea protein for plant-based meat alternative products, ready-to-mix powders, ready-to-mix beverages, dairy alternatives, and nutrition bars, as well as other applications requiring the most neutral flavor and moderate viscosity. It provides Puratein, a canola protein isolate for use in meat alternatives, such as burgers, sausages, and nutrition bars; Supertein, a canola protein that is a light-colored powder for use in non-dairy frozen desserts, egg alternative, plant-based marshmallows and ready-to-mix beverages, whipped toppings, and plant-based bars; and Nutratein, a canola protein comprising a mixture of globulin and albumin proteins for use in meat and egg alternatives, and other plant-based functional foods. In addition, the company offers Nutratein-PS and Nutratein-TZ, a blend of Peazac pea protein; and CLARISOY, a soy protein for use in sports nutrition beverages, citrus-based drinks, fruit-flavored beverages, lemonades, powdered beverage mixes, and other foods and nutritional products. Further, it provides MeritPro, a nutritional protein blend, including allergen-free, gluten-free, non-dairy, non-GMO, and vegan. The company was formerly known as Burcon Capital Corp. and changed its name to Burcon NutraScience Corporation in October 1999. The company was incorporated in 1998 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Burcon Nutrascience generates revenue through several key streams, including the licensing of its proprietary protein extraction and purification technologies to food manufacturers, which allows them to produce their own plant-based protein products. Additionally, the company sells its protein ingredients directly to food and beverage companies for inclusion in their products. Significant partnerships with major food industry players enhance Burcon's market reach and credibility, contributing to its earnings. The company also explores joint ventures and collaborations that leverage its technology and product offerings in the rapidly expanding plant-based market, providing further avenues for revenue generation.

Burcon Nutrascience Financial Statement Overview

Summary

Despite a sharp TTM revenue rebound (+65%), fundamentals remain very weak: gross profit is negative, net margin is extremely negative, and operating losses persist. Balance-sheet risk is elevated with equity largely eroded and very high leverage (debt-to-equity ~179.7x). Cash flow remains negative (TTM OCF -$7.1M; FCF -$7.9M) with only modest improvement versus the prior period.

Income Statement

TTM (Trailing-Twelve-Months) revenue rebounded sharply (+65.0%), but the business is still deeply unprofitable: gross profit is negative and losses remain large (net margin about -1,382%). Across recent annual periods, revenue is very small and inconsistent, while operating losses (EBIT/EBITDA) stay heavily negative—suggesting the company has not yet reached a cost structure that can scale with current sales levels.

Balance Sheet

Balance sheet risk has increased materially. In TTM (Trailing-Twelve-Months), debt is very high relative to equity (debt-to-equity ~179.7x) because equity has been largely eroded, and returns on equity are strongly negative—consistent with ongoing losses. While total assets are meaningful, the capital structure looks strained versus prior annual periods when equity was higher and leverage was far lower.

Cash Flow

Cash generation is weak with continued cash burn: TTM (Trailing-Twelve-Months) operating cash flow is -$7.1M and free cash flow is -$7.9M. A relative positive is that free cash flow has improved versus the prior period (positive growth rate) and free cash flow is less negative than net income (free cash flow to net income > 1), but the company still relies on external funding while cash flows remain negative.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	803.71K	381.40K	184.36K	363.91K	171.47K	258.65K
Gross Profit	-4.64M	-870.76K	184.36K	363.91K	171.47K	-527.31K
EBITDA	-8.11M	-7.43M	-6.23M	-18.90M	-9.92M	-4.73M
Net Income	-11.11M	-8.26M	-7.45M	-25.36M	-10.26M	-617.49K
Balance Sheet
Total Assets	24.55M	30.66M	12.91M	9.90M	29.35M	37.72M
Cash, Cash Equivalents and Short-Term Investments	1.75M	7.28M	4.20M	1.46M	7.00M	13.97M
Total Debt	23.20M	22.40M	6.67M	5.17M	73.14K	33.70K
Total Liabilities	24.42M	23.71M	7.76M	5.76M	1.10M	1.45M
Stockholders Equity	129.12K	6.94M	5.15M	4.14M	28.25M	36.27M
Cash Flow
Free Cash Flow	-7.90M	-5.82M	-5.90M	-6.38M	-7.18M	-5.91M
Operating Cash Flow	-7.13M	-5.51M	-5.78M	-6.02M	-5.91M	-3.03M
Investing Cash Flow	-2.13M	-1.66M	-39.49K	-4.43M	-1.23M	-2.72M
Financing Cash Flow	10.10M	10.23M	8.56M	4.90M	174.08K	4.70M

Burcon Nutrascience Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.73
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BU, the sentiment is Neutral. The current price of 1.73 is above the 20-day moving average (MA) of 1.72, below the 50-day MA of 1.78, and below the 200-day MA of 2.28, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of 73.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:BU.

Burcon Nutrascience Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
BABY	44 Neutral	C$4.12M	-0.28	-517.87%	―	-25.08%	65.57%
NPRA	44 Neutral	C$10.81M	-3.89	―	―	69.12%	43.02%
BU	42 Neutral	C$23.23M	-1.69	-1208.82%	―	190.07%	-2.88%
CULT	39 Underperform	C$489.28K	-0.08	-190.55%	―	―	-126.28%
PNGA	27 Underperform	C$8.91M	-1.55	-86.40%	―	-49.04%	15.66%

Burcon Nutrascience Corporate Events

Burcon Upsizes Convertible Debenture Financing to $6.9 Million Amid Strong Insider Support

Burcon NutraScience has upsized its non-brokered private placement of convertible debentures to an aggregate principal amount of up to $6.9 million, citing strong investor demand despite challenging market conditions. Insiders and the company’s manufacturing partner owners have committed to subscribe for at least $5 million of the offering, which has received conditional approval from the Toronto Stock Exchange and is expected to support accelerated production and sales efforts as Burcon pursues a revenue target of more than $10 million in 2026.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.

Burcon Raises Initial $1.25 Million in Insider-Backed Convertible Debenture Financing

Burcon NutraScience has closed the first tranche of a non-brokered private placement of unsecured convertible debentures, raising $1.25 million from its manufacturing partner owners as part of a financing of up to $6.3 million that has conditional approval from the Toronto Stock Exchange. Insiders and the company’s manufacturing partner owners have committed to invest at least $5 million, with a second and final tranche expected to close after disinterested shareholder approval at a special meeting in February 2026; the debentures carry 15% annual interest, a four-year term, and are convertible into common shares or pre-funded warrants at $1.60, a structure that strengthens Burcon’s balance sheet to support scaling production and ingredient sales while potentially increasing insider ownership above 20%.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.

Burcon NutraScience Reports Strong Growth and Momentum Heading into 2026

Burcon NutraScience has reported a strong year of execution and commercial momentum, with significant achievements in commercial execution, manufacturing, and technology validation positioning the company for substantial growth in 2026. The company has seen customers transition from evaluation to commercial purchase orders, driven by the differentiation of its high-purity, clean-tasting protein products. Burcon’s strategic partnership with RE ProMan LLC has enabled scalable production to meet growing demand, and the successful validation of its patented protein technologies at full commercial scale reduces technology and execution risk. The company is making targeted production investments and finalizing a financing to support accelerated growth and achieve positive cash flow, with a revenue target of over $10 million for 2026.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.

Burcon Insiders Boost Investment in Convertible Debenture Offering

Burcon NutraScience Corporation announced that its insiders have increased their commitment to a non-brokered private placement of convertible debentures, reflecting confidence in the company’s business plan and sales trajectory. This increased insider participation may require disinterested shareholder approval, leading to an extension of the offering’s closing timeline. The move underscores Burcon’s commercial momentum and its ability to deliver value to shareholders as it continues to position itself as a key player in the plant-based protein market.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.

Burcon NutraScience Secures $4 Million in Convertible Debentures to Fuel Growth

Burcon NutraScience Corporation has announced a non-brokered private placement of convertible debentures totaling up to $4 million, with insiders committing to at least $2 million. This financing aims to provide capital flexibility to support Burcon’s growth as it experiences increasing customer demand. The company also entered into a loan agreement for $700,000 to further bolster its financial position. The proceeds from these financial activities will be used to enhance production capabilities, plan for future infrastructure investments, and repay short-term loans, positioning Burcon for accelerated growth and strengthening its market presence.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.

Burcon NutraScience to Discuss Q2 Financial Results Amid Growing Protein Sales

Burcon NutraScience announced it will hold a conference call on November 12, 2025, to discuss its fiscal 2026 second-quarter financial results. The company is experiencing increased momentum in protein sales as customers transition to commercial purchase orders, reaffirming its 2025 revenue target of $1-3 million. This growing demand is expected to drive revenue acceleration and margin expansion into 2026, highlighting Burcon’s strengthening position in the plant-based protein industry.

The most recent analyst rating on (TSE:BU) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Burcon Nutrascience stock, see the TSE:BU Stock Forecast page.